Business
Proposed £8.1 million Fundraising
Proposed £8.1 million Fundraising.
About this update from H-power Plc
[{"type":"text","content":"\n \nRNS Number : 8620W AFC Energy Plc 14 February 2017 \n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n \n \nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN, NEW ZEALAND OR ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF LOCAL SECURITIES LAWS OR REGULATIONS.\n \nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY NEW ORDINARY SHARES, NOR SHALL IT (OR ANY PART OF IT), OR THE FACT OF ITS DISTRIBUTION, FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, OR ACT AS ANY INDUCEMENT TO ENTER INTO, ANY CONTRACT OR COMMITMENT WHATSOEVER WITH RESPECT TO THE PROPOSED PLACING.\n \nAFC Energy PLC\n(\"AFC Energy\" or the \"Company\")\n \nProposed Placing of up to 58,500,000 New Ordinary Shares, \nProposed Subscription of up to 1,500,000 New Ordinary Shares and\nOpen Offer of up to 20,684,262 New Ordinary Shares at a price of 10 pence per New Ordinary Share to raise up to £8.1 million\n \nAFC Energy, the industrial fuel cell power company, is pleased to announce its intention to conduct a fundraising of up to approximately £8.1 million (before expenses) through a proposed placing of 58,500,000 ordinary shares of 0.1 pence each (\"Placing Shares\") (the \"Placing\"), a proposed subscription of 1,500,000 New Ordinary Shares (the \"Subscription\") and a proposed open offer of up to 20,684,262 New Ordinary Shares (the \"Open Offer\"). The New Ordinary Shares will rank pari passu in all other respects with the Company's existing ordinary shares of 0.1 pence each (the \"Existing Ordinary Shares\"). \n \nThe Placing of New Ordinary Shares is being offered by way of an accelerated bookbuild (\"Bookbuild\"), which will be launched imme...